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2003-01-21 LOC e e , January 21, 2003 IRREVOCABLE STANDBY LETTER OF CREDIT NO. 30-99 City of Albertville Attn: Linda Goeb PO Box 9 Albertville, MN 55301 RE: CEDAR CREEK SOUTH 4TH ADDITION Irrevocable I~etter of Credit No. 30-99 is hereby amended to extend the maturity date to July 5, 2003. A draft drawn under this Letter of Credit must bear on its face the words: "Drawn under Northeast Bank Letter of Credit No.30-99, dated July 5,2000." All other terms and conditions of this Irrevocable Letter of Credit No.30-99 shall remain unchanged. If you have any questions please feel free to contact Larry Crane at 763-792-3216 regarding this matter. Sincerely, ) _ /VLJ6:JL ~ all T. Mikolich Executive V ice President and Chief Operating Officer